Ex-insurance chief Pavlos Psomiadis on trial
Pavlos Psomiadis, president of the defunct Aspis Pronia life insurance firm, went on trial on fraud and money-laundering charges yesterday following his arrest late last year.
He and his assistant Andreas Loizos face charges of providing the company?s creditors with a false 550-million-euro letter of guarantee from a British bank to keep the business afloat.
The case came to light after 65 investors sued the firm.
